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Note 5 - Acquisitions (Tables)

6 Months Ended

Jun. 30, 2022

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

		Useful Lives (years)				Amounts			Valuation Methodology
Cash						$	81,473
Accounts receivable							611,471
Other current assets							6,338
Intangible assets with estimated useful lives:
Customer relationships			8				1,090,000		Replacement cost and relief from royalty
Non-compete agreements			3				120,000		Multi-period excess earnings
Intangible assets with indefinite lives:
Trade names							280,000
Goodwill							785,000
Total assets acquired							2,974,282
Current liabilities							(458,925	)
Net assets acquired						$	2,515,357

		Useful Lives (years)				Amounts			Valuation Methodology
Cash						$	20,235
Fixed assets							8,902
Intangible assets with estimated useful lives:
Technology			5				2,900,000		Replacement cost and relief from royalty
Customer relationships			6				3,860,000		Multi-period excess earnings
Goodwill							4,560,099
Total assets acquired							11,349,236
Current liabilities							(344,136	)
Net assets acquired						$	11,005,100

Business Acquisition, Pro Forma Information [Table Text Block]

		Three months ended June 30,								Six months ended June 30,
		2022				2021				2022				2021
Revenues		$	4,317,382			$	4,800,099			$	7,312,894			$	9,377,504
Net loss		$	(1,525,442	)		$	(748,862	)		$	(3,603,749	)		$	(1,326,256	)

Gray Matters [Member]

Notes Tables

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Net cash consideration		$	7,240,100
Buyer common stock			1,500,000
Fair value of deferred consideration			1,335,000
Fair value of contingent consideration			930,000
Total		$	11,005,100

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

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